Infosys Shares Gain Nearly 4 Percent

CORPORATE

Shares of Infosys today rose by nearly 4 per cent after the company approved a Rs 8,260-crore share buyback and also raised its revenue growth forecast.

After a positive opening, shares of the company further gained 3.70 per cent to Rs 709 on BSE.

India’s second largest IT firm Infosys on Friday reported a 30 per cent drop in its December quarter net profit on higher expenses even as it approved a Rs 8,260-crore share buyback  the second in less than 13 months’ time.

Its net profit slumped to Rs 3,610 crore in October-December 2018 from Rs 5,129 crore in the same period a year ago, the company said in a statement